• Form 6251 is used to determine whether taxpayers should pay an alternative minimum tax instead of the standard income tax.

  • AMT was designed to ensure that the rich pay their fair share of taxes.
  • Changes to the AMT, which were part of the Tax Cuts and Jobs Act, have significantly reduced the number of taxpayers who have to pay it.
  • The IRS raised the AMT in 2022 to $75,900 for individuals and $118,100 for citizens co-filing.
  • Established in 1969, the AMT is a tax system parallel to the regular income tax.